MENT RESOURCES 17 Homework Exercise 17-8 Here are comparative balance sheets for Velo Company cise 122 cise 124 cise 17.5 VELO COMPANY Comparative Balance Sheets December 31 ise 17-9. (Part Submission) 2017 Score Results by Study ive Assets Cash Accounts receivable Inventory Land Equipment Accumulated depreciation equipment Total Liabilities and Stockholders' Equity Accounts payable Bonds payable Common stock ($1 par) Retained earnings Total $73,500 86,200 170,100 74,000 260,700 (65,600) $598,900 2016 $32,600 70,600 186,500 100,400 200,700 (33,500) $557,300 $35,100 150,200 215,100 198,500 $598,900 $46,900 203,900 175,800 130,700 $557,300 Additional information: 1. Net income for 2017 was $102,300. 2. Cash dividends of $34,500 were declared and paid. 3. Bonds payable amounting to $53,700 were redeemed for cash $53,700. 4. Common stock was issued for $39,300 cash 5. No equipment was sold during 2017, but land was sold at cost. Prepare a statement of cash flows for 2017 using the Indirect method. (Show amounts that decrease cash flow with either a - signe. VELO COMPANY Statement of Cash Flows